Use the budgets provided for the last three summers for the Countywide IT Professional Society (CIPS) to perform the calculations described in this spreadsheet. Use the data to the right to answer the following questions. You may need to scroll to the right to see the data. 1. Use a formula to calculate the percentage of expenses for the 2013 summer budget that was spent on rent for the event. Write the formula you used and the percentage you calculated, to two decimal places, in the cell below. Hint: Use order of operations principles for the formula. (5 points) 2. A closer estimate of the total cost can be made by including the estimated sales tax. Use a formula to calculate the estimated cost for July 2014 using 7% sales tax. Then, write the formula you used and the estimated cost in the cell below. Hint: Convert 7% into a decimal for the formula. (5 points) 3. Current data can be used to predict future costs. Based on the budget for the last three summers, predict the amount of money that will be sponsored for each event in 2015. Write your prediction in the cell below, and explain how you arrived at your conclusion. Be sure to use currency formatting for the monetary amount. (5 points) 4. Based on the budget for the last three summers, predict the website hosting fee for August 2015. Write your prediction in cell A21, and explain how you arrived at your conclusion in cell A22. Be sure to use currency formatting for the monetary amount in cell A21. (5 points) 2014 Countywide IT Professional Society (CIPS) Summer Budget June July August Event rent $200.00 $250.00 $150.00 Refreshments $50.00 $60.00 $70.00 Website hosting fee $10.00 $10.00 $10.00 Administrative costs $50.00 $40.00 $60.00 Expenses $310.00 $360.00 $290.00 Sponsored at $150/event -150 150 150 160 210 140 2013 Countywide IT Professional Society (CIPS) Summer Budget June July August Event rent $195.00 $225.00 $130.00 Refreshments $47.00 $55.00 $68.00, Website hosting fee $10.00 $10.00 $10.00 Administrative costs $45.00 $33.00 $55.00 Expenses $297.00 $323.00 $263.00 Sponsored at $200/event -200 200 200 97 123 63 2012 Countywide IT Professional Society (CIPS) Summer Budget June July August Event rent $185.00 $205.00 $125.00 Refreshments $40.00 $50.00 $65.00 Website hosting fee $10.00 $10.00 $10.00 Administrative costs $43.00 $30.00 $50.00 Expenses $278.00 $295.00 $250.00 Sponsored at $250/event -250 -250 -250 28 45 0 $600.00 $180.00 $30.00 $150.00 $550.00 $170.00 $30.00 $133.00 $515.00 $155.00 $30.00 $123.00